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Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations. It may also offer a defence against legal action. A common example of due diligence is the process through which a potential acquirer evaluates a target company or its assets in advance of a merger or acquisition. [1]
Its name was originally short for "My Due Diligence." [1] In 2005, MyDD was profiled in Campaigns and Elections magazine, crediting the site with being "the first major liberal blog." [2] In January 2006, the name was changed to "My Direct Democracy" as part of a site redesign, with the new tagline "Direct Democracy for People-Powered Politics."
Due diligence is the amount of diligence required to avoid negligence in professional activities. It commonly arises in major acquisitions where the legal principle of caveat emptor ("let the buyer beware") requires the purchaser to make diligent inquiries about the property or service being sold. [14]
Make sure you do your due diligence when hiring a subcontractor: This person will be representing your business, and you want to ensure they deliver high-quality work. Do a background check, ask ...
Here, mere errors in judgment are excusable (Best Judgment Rule) and cannot be judged solely with the gift of hindsight without substantial injustice. He or she is required to exercise ordinary care and caution (diligence) in the use of that skill (Due Care Rule), and procedural and technical failures are held to be the most common breaches.
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Diligence is a behavior or work ethic with a belief that work is good in itself; also considered a virtue. Diligence may also refer to: Due diligence, a legal concept; Diligence (Scots law), a legal process in Scots law; Operational due diligence, review process for potential mergers and acquisitions
Nevertheless, crewmembers took the passenger at his word and — without doing any of their own due diligence — told law enforcement that Williams was trafficking his own wife, according to the ...